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4 tax reforms that can reinvigorate Main Street — and boost the economy

President Trump and congressional Republicans have vowed to cut taxes, simplify returns and stimulate business growth. With many details to be fleshed out and negotiated, entrepreneurs are hoping for tax changes to encourage business start-ups, which have been sluggish.

The Bureau of Labor Statistics says creation of new businesses hit about 679,000 in 2015, up from the Great Recession low of 561,000 in 2010 but still shy of the record 716,000 in 2006. Even worse, jobs created by businesses less than one year old, though rising in recent years, have lagged, hitting about 3 million in 2015 compared to more than 4.7 million a year in 1998 and 1999.